CNBC Investing Club: Cramer’s Morning Take on Wells Fargo 6/9/26

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Jim Cramer (0:31)

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Jim Cramer (0:47)

Jim Cramer here to share a short preview of my take on the market from today's members only CNBC Investing Club morning meeting.

Join the club for full access to the morning meeting every day at 1020 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.

Jeff Marks (1:08)

One more thing. You profiled Raw Stores last night on Mad, and we've got TJX in the portfolio, another off price chain.

Jim Cramer (1:14)

Yeah. Now, at Raw Stores, I was really focused on Jim Conroy whom I knew from Boot Barn. He comes in and he makes some changes that are very good.

I would love to offload some TJX that we brought down here when people lost faith in TJX. I don't think that would be a bad move because I do think the stock is up a great deal. My problem with selling TJX is the best of the best, and you should be selling your losers, not your winners.

Jeff Marks (1:40)

Yeah. UBS, the evidence lab, they just had their 9th annual UBS Off Pricing Department Store Retailer's Consumer Survey, and their takeaways are value leadership with many more consumers saying TJX is more value for your money versus like a Macy's and other department stores.

Jim Cramer (2:01)

It was really an incredible gap between them and the next one.

Jeff Marks (2:05)

Yeah. People expecting to shop more at TJX with a higher frequency over the next 12 months. They like the brand assortment as well as a reason to shop.

Much larger there, a big increase versus the last time they did the survey. So just some good news on TJX there.

Jim Cramer (2:23)

Watch the banks, they're going to go in our favor, and our medical place will go in our favor because people are going to begin to say, it has to be so rapid.

Jeff Marks (2:31)

Is this rotation? Is this oil down?

Jim Cramer (2:35)

Yes, it's a rotation against inflation, but also, unfortunately, it's a rotation which says if we get a rate hike, we're in big trouble.

Jeff Marks (2:41)

Well we hit a lot of my rapid fire ideas through the conversation here.

Jim Cramer (2:45)

But the one thing I do want to point out is, I don't like Wells Fargo. I've lost interest in Wells and that's simply because they hired all these investment bankers, and what's happened? Look at Goldman Sachs versus Wells. Goldman Sachs is a huge winner. Wells, we have won. We have made a lot of money. I would love to exit the position. I don't like to exit all at once, but this is very telling. If you look at this year to date versus put up Goldman Sachs, and you'll see exactly what I'm talking about.

Goldman is just, we sold some yesterday, but this is up 18

That was a good sale that we made yesterday, and I think that we are in the wrong bank when it comes to Wells. I'll take the leverage of Capital One, and I'll take the surety of Goldman Sachs, and we just don't need Wells Fargo. And there it goes.

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All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates, and may have been previously disseminated by Cramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Cramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce particular trading behavior, investment or strategy. To view the full CNBC Investing Club Disclaimer, please visit cnbc.com/investingclubdisclaimer.

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